YOU ARE HERE: LAT HomeCollectionsStock Splits

Stock Splits

December 17, 1992
Fidelity National Financial Inc. on Wednesday declared a three-for-two stock split effective Jan. 18, with shares to be distributed Feb. 4. The title insurance underwriter, based in Irvine, also said it will pay a quarterly dividend of 8 cents, to be paid after the split. In a statement, Fidelity President William P. Foley II said the split "reflects our ongoing confidence in Fidelity's performance. Increasing our outstanding shares should enhance the stock's marketability."
March 21, 2011 | Reuters
Citigroup Inc. will resume paying a nominal dividend after it uses a reverse stock split to shrink the number of shares outstanding, taking a small step in its recovery from the financial crisis. Citigroup will pay a quarterly dividend of a penny a share, its first payout since 2009. But the bank's shares dropped Monday, in part because it remains behind rivals like JPMorgan Chase & Co., and Wells Fargo & Co. Those banks Friday received regulatory authorization to increase their dividends as much as 20 cents a share and buy back stock.
April 22, 1999 | Dow Jones
Tivoli Industries of Santa Ana said Wednesday it has been notified by Nasdaq officials that its stock is no longer in danger of losing its listing on the Nasdaq market. A reverse 1-for-3 stock split, which took effect late last month, has bumped the shares above the $1 minimum needed to continue trading on the Nasdaq SmallCap market. Tivoli, which makes specialty lighting and related products, had been one of several companies wrestling with tougher listing standards imposed last year by Nasdaq.
September 9, 2007 | Ezra Klein, Ezra Klein is a staff writer at the American Prospect. He blogs at
People say that economics is complicated. But it sure looks simple to me. After all, what's so complicated about a sector that can be represented in a single arrow? Up for good, down for bad. And if that weren't easy enough, we've got green for good, and red for bad. It's child's play. It even looks like a toy I played with as a child. The green arrow made a cow moo, as I remember. Looks, however, can be deceiving.
March 12, 1999
Sonic Jet Performance Inc., Huntington Beach-based maker of personal watercraft and recreational/sport boats, announced a 2-for-1 stock split, effective March 26 for shareholders of record March 12. Directors approved the split "in an effort to provide more liquidity and to broaden shareholder base," said president Alex Mardikian. The company will have 13 million shares of stock outstanding after the split. The stock, which trades over the counter, closed Thursday at $20.63, up 63 cents a
October 6, 1998
Shareholders of Tustin-based Cerplex Group Inc. have approved a 1-for-10 reverse stock split, decreasing the number of shares of common stock outstanding to 7.2 million from 72 million, the company said. The company, a provider of computer services, was created from the merger April 30 of Cerplex and Aurora Electronics. The company also said it has received an additional infusion of $5 million from its largest shareholder, New York-based private capital company Welsh, Carson, Anderson & Stowe.
March 16, 1999
Newport Beach-based Consolidated Builders Supply Corp. said its directors have approved a 1-to-5 reverse stock split. The stock, which is traded over the counter, closed at 6 cents a share on March 9, the last day that the shares traded.
September 20, 2000 | Dow Jones
Rainbow Technologies Inc., Irvine provider of Internet security software, has declared a 2-for-1 stock split, payable Oct. 23 to shareholders of record Oct. 9. The stock on Tuesday moved up $3.06 a share, or 8.3%, to $39.81 in Nasdaq trading. The shares have gained more than 71% this year.
With Inktomi announcing a 2-for-1 stock split Tuesday, several other surging Internet companies could soon follow suit. Companies usually split their stocks after big price run-ups, often to make them more affordable for average investors. And Internet companies, of course, have been among the year's biggest runners. San Mateo, Calif.-based software developer Inktomi, for instance, is now at $127 a share, up 605% from its June initial public offering price.
April 29, 2000 | Marc Ballon
Day Runner Inc., the struggling maker of daily organizers and planners, said Friday that its board of directors authorized a 1-for-5 reverse split of the company's stock. Under the reverse split, the Fullerton company would turn its total of more than 11.9 million shares outstanding into nearly 2.4 million shares. Day Runner said in a press release that it took the action to comply with Nasdaq listing requirements and "maintain its current listing."
June 9, 2005 | From Bloomberg News
H&R Block Inc. said fiscal fourth-quarter profit rose 6.9% on an increase in mortgage lending, after adjusting for a restatement that boosted year-earlier earnings. It also set a 2-for-1 stock split. Net income rose to $616.5 million, or $3.66 a share, from $576.9 million, or $3.24, a year earlier, the Kansas City, Mo.-based company said. The company restated earnings for fiscal 2004 and 2003, adjusting for changes in the way it accounts for acquisitions, leases and other items.
July 14, 2004 | From Dow Jones/Associated Press
Wireless communications company Qualcomm Inc. declared a 2-for-1 stock split Tuesday and increased its quarterly dividend by 40%. The San Diego-based maker of cellphone chips said its quarterly cash dividend would increase to 14 cents a share from 10 cents on a pre-split basis and to 7 cents from 5 cents on a post-split basis. The increased dividend rate will be payable Sept. 24 to shareholders of record on Aug. 27. The stock split will take effect Aug. 13 for holders of record on July 23.
May 13, 2004 | From Bloomberg News
Northrop Grumman Corp., the world's largest builder of warships, said Wednesday that it expected sales to climb 7.1% next year as U.S. defense spending rose. The Century City company also raised its dividend and said it would split its stock for the first time since 1984. Northrop forecast at least 10% growth in 2005 earnings per share on sales of $30 billion. It wasn't more specific in a statement. Northrop repeated its 2004 forecast for profit from continuing operations of $5.60 to $5.
March 5, 2004 | From Reuters
Coffee roaster Farmer Bros. Co. said its board declared a 10-for-1 stock split in the form of a one-time stock dividend after the Torrance-based company completed its Delaware reincorporation. The stock split will entitle each stockholder of record to receive nine additional shares for every share of Farmer Bros. stock held at the close of business April 23. The new shares will be issued May 10. After the split, the company will have about 16.1 million shares outstanding.
December 12, 2003 | From Bloomberg News
Athletic footwear maker K-Swiss Inc. said it would split its shares 2 for 1 and double its dividend after the company's stock price and profit surged this year. The Westlake Village-based company will split its Class A and Class B shares for investors of record Dec. 22. The annual dividend will rise to 8 cents a share, beginning with the fourth-quarter payment on Jan. 15 to shareholders of record Dec. 31.
July 25, 2003 | Alex Pham, Times Staff Writer
Online auctioneer EBay Inc. announced a 2-for-1 stock split Thursday as it posted double-digit increases in revenue and profit for the second quarter, driven by growth in its international business and the strong performance of its PayPal online payment business. EBay, which has $2.5 billion in cash, posted $509 million in revenue for the quarter, up 91% from the same period a year ago and up 7% from the previous quarter.
Los Angeles Times Articles